ConocoPhillips, Origin and Sinopec Sign Heads of Agreement for Australia LNG Project

Comments
Loading...
ConocoPhillips COP today announced that Australia Pacific LNG Pty Ltd and China Petrochemical Corporation have signed an agreement establishing non-binding key commercial terms for the supply of up to 4.3 million tonnes per annum of LNG for 20 years. The agreement, known as a Heads of Agreement, also specifies terms under which Sinopec will subscribe for a 15 percent equity stake in APLNG, with ConocoPhillips and Origin Energy each reducing its interest to 42.5 percent. In addition to the signing of the Heads of Agreement, the APLNG project received Federal Environmental approval this week.
Overview Rating:
Good
62.5%
Technicals Analysis
66
0100
Financials Analysis
60
0100
Overview
Market News and Data brought to you by Benzinga APIs

Posted In:
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!